In this year’s General Election, voters will be asked to decide on a proposed constitutional amendment (Con Am) that would give the Legislature the authority to create one of the largest tax increases in Hawai‘i’s history. The ballot question reads:
“Shall the legislature be authorized to establish, as provided by law, a surcharge on investment real property to be used to support public education?”
The question is vague, but the consequences are clear — this new tax will raise the cost of living for EVERYONE in our state.
There is a misconception that this new tax will only affect rich, out-of-state and foreign investors who own homes worth $1 million or more, but that’s not true.